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High tech, Comms and Media: Brace for impact

As digital users see content and service blend, skirmishes are occurring behind the screens.

OVERVIEW

As companies in all industries are staking claims in the digital world and the Internet of Things, media, communications and high tech companies are all rushing to occupy the same space. Traditional companies are competing with nimble new entrants to help define and deliver a new breed of products and services. Everyone wants to be the next gen tech company—but what does that mean, and how do you get there?

KEY FINDINGS

Next gen tech companies are in a high-speed race with a lot of uncertainties. Traditional powerhouses and up-and-comers should approach the race by taking three key actions:

Understand the ever-changing course

According to Accenture Strategy research, only 2 percent of Internet of Things (IoT) supplier revenue will be captured by connectivity providers. More than 80 percent will go to industry-specific services.

Gear up for fast change

Having the right operating model is essential. While 80 percent of executives interviewed told Accenture Strategy that advanced operating models are a driver of growth, just 22 percent say their operating model is helping them act on strategic growth initiatives.

Unleash your horsepower

Legacy systems and processes can boost competitiveness when used the right way. Among thirty top communications executives interviewed, all agreed that turning off legacy would create irreparable losses in revenue and market share.

RECOMMENDATIONS

The key to becoming a winning next gen tech company is embracing the mindset and behaviors that are most conducive to agility and speed.

Broaden strategy and narrow focus.

Rather than trying to be everything to everyone and winding up as a utility, next gen companies will take a sweeping look at the market possibilities and then find a couple of niches to create and own.

Eliminate administrative burden.

Top-down decisions must give way to a “fail fast and fail often” approach. Pushing decisions deeper into the organization increases the chances of differentiating ideas and products.

Define your ecosystem.

There are no islands in the digital world, so companies must find their place in the ecosystem of products and services.

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